Let’s be real. Technology is getting creepy. It’s the scary teacher from grade school that somehow always knows what you’re doing even when she isn’t even looking at you. It seems to be watching our every click spanning the vast universe of the Internet. Companies are focusing on developing technology that processes all of our data to make inferences that could help them turn us into customers, or more importantly, into advocates for their brand. Recently, a brand we’re all familiar with, Netflix, held a competition that rewarded a million dollars (no one we knew won to note) to the group that could create an algorithm that could create better movie suggestions for their members.
It is becoming more and more noticeable to all of us we know; the advertisements on Facebook are generated by endless data based on your profile and pictures posted. Did you notice if you’re wearing a certain brand or piece of clothing that you’ll somehow get an ad with that same information in it? It’s all about targeting, but that’s almost scary targeting! (They’re watching you)!
We have now a developed generation that focuses on individuality, and this evolution inspires us to publicize ourselves on social platforms such as Tumblr, Instagram, Facebook, among others. The science behind this data as stated above is rapidly growing due to the high demand of how to use it despite how complicated it is. Going back to the Netflix competition, out of the thousands that entered their competition, only two teams were actually able to create algorithms that improved movie suggestions by ten percent. Acquiring data is easy, but making successful inferences from all of that data is the hard part. But even the smallest improvement can make a large difference by using data properly, which is why companies aren’t afraid to invest.
We’ve been thinking about that a lot on our end here at B Culture Media. How can we help the industry understand what to extract, or more importantly, what to put in place to make that extraction of data all the more usable from the get-go? And, how can we help them understand to the ‘T’ what their target audiences’ want so that all those ad monies are spent wisely. We feel it’s a bit like being Beauty from “Beauty and the Beast” and you have all of this amazing food enticing you to “be their guest”, but instead of that cute dancing cake, now it happens to be advertisements for billions of things you can put into practice to give you lots and lots of data…but, at the end of the day, what does that all translate into? Sales? Growth? Advocacy? What are you Mr./Mrs. X Brand actually searching for?
That’s what makes us understand that we’re circling around back to the technology/data days that existed before the Internet craze started. We need to fully understand the depth of a business, what they need to accomplish, and put into place strategies and metrics to ensure that the “cool” marketing recommendations using innovative technology will actually help an entire organization meet their business goals. Big data is useful, spooky targeted ads are useful, but you have to understand first as to why it’s useful and what you want out of it. I mean, of course besides tracking traffic to a website and the numbers of fans on social channels… those are easy!